The Future of MVNO Billing: Embracing Digital Transformation

As the telecom industry continues to evolve, digital transformation has become critical for all players in the ecosystem. This is particularly true for Mobile Virtual Network Operators (MVNOs) who rely on effective billing practices to remain competitive in the market. With the rise of MVNO billing providers, the industry has seen a significant shift towards more efficient and accurate billing processes, leading to improved customer satisfaction and revenue growth.

Understanding MVNO Billing Providers

Mobile Virtual Network Operator (MVNO) billing providers are companies that offer billing services to MVNOs operating on existing mobile networks. They provide an array of billing services, from pre-paid and post-paid billing to real-time data usage monitoring and customer care services. MVNO billing providers ensure that MVNOs are able to bill their customers correctly and efficiently.

These providers have in-depth knowledge of the telecom industry and its billing operations. This knowledge enables them to create tailored and flexible billing solutions that meet the unique needs of each MVNO. They also help MVNOs to manage and optimize their billing processes, reducing the potential for errors and enhancing customer satisfaction.

Understanding MVNO Billing Providers

To fully understand the role of MVNO billing providers, it's important to know what an MVNO is. An MVNO is a mobile service provider that does not own or operate its own mobile network but rather purchases minutes, data, and texts in bulk from Mobile Network Operators (MNOs) at wholesale prices. The MVNO then sells these services to its customers under its own brand name and pricing scheme.

As MVNOs operate on the existing infrastructure of MNOs, they face the challenge of adapting to the billing systems and practices of their host networks. This is where MVNO billing providers come in, providing specialized billing services that are tailored to the specific needs of MVNOs.

By working with an MVNO billing provider, MVNOs can focus on their core business operations, while leaving complex billing operations to the experts. MVNO billing providers ensure that MVNOs have access to accurate and efficient billing solutions that meet the needs of their customers.

The Evolution of MVNO Billing Services

The telecom industry has undergone significant transformations in recent years, including the MVNO space. Traditional billing systems have struggled to keep up with the dynamic nature of the market. With the proliferation of various digital technologies, MVNO billing services have evolved to meet the demands of the market.

For many years, MVNOs relied primarily on legacy billing systems that were often inflexible and lacked the capability to handle complex billing scenarios. As the market grew more competitive, MVNOs began to demand modern, nimble solutions that could offer real-time billing, flexible pricing models, and automated invoicing.

MVNO billing providers recognized that traditional billing systems were no longer adequate for the evolving market. They began to develop modern solutions that could cater to the unique needs of MVNOs. As a result, MVNO billing has undergone a significant evolution in recent years.

Modern MVNO billing solutions offer a wide range of features that facilitate efficient and accurate billing operations. These features include real-time billing, flexible pricing models, automated invoicing, and analytics capabilities. With the advent of digital transformation, MVNO billing solutions are now capable of meeting the demands of the modern telecom market.

However, the evolution of MVNO billing services is an ongoing process. As the market continues to grow and evolve, MVNO billing providers must continue to innovate and develop new solutions that meet the changing needs of MVNO carriers and their customers.

Key Features of Modern MVNO Billing Solutions

Modern MVNO billing solutions offer a range of features that improve billing accuracy, streamline processes, and enhance customer satisfaction. Here are some of the key features of modern MVNO billing solutions:

• Real-time billing: Modern MVNO billing systems can process and bill usage in real-time, ensuring accurate billing and timely payments.

• Flexible pricing models: MVNO billing solutions offer flexibility when it comes to pricing models. This allows MVNOs to create plans that meet their customers' needs while remaining profitable.

• Automated invoicing: Automated invoicing reduces the potential for human error and ensures consistent, timely billing.

• Analytics capabilities: MVNO billing solutions offer advanced analytics capabilities, allowing MVNOs to gain insights into their customers' usage patterns and behaviors. This can inform future pricing and marketing strategies.

• Self-care portals: Self-care portals allow customers to manage their accounts, view usage, and pay bills online. This enhances convenience and reduces the workload on customer service teams.

Real-time Billing

Real-time billing is a critical feature of modern MVNO billing solutions. With real-time billing, usage is billed as it occurs, resulting in accurate and timely billing for customers. This feature also allows MVNOs to offer flexible pricing models, such as pay-as-you-go plans or plans with a set amount of data or minutes. With real-time billing, customers are only billed for what they use, which can lead to cost savings.

Flexible Pricing Models

Flexible pricing models are essential for MVNOs that want to differentiate themselves in a competitive market. With modern MVNO billing solutions, pricing models can be easily customized and adjusted to fit customers' needs. For example, an MVNO might offer a family plan that includes multiple lines at a discounted rate, or a data-only plan for customers who primarily use their devices for internet access.

Benefits of Digital Transformation in MVNO Billing

Digital transformation has become a key driver of innovation in the telecom industry, and MVNO billing is no exception. By embracing new technologies and modern billing practices, MVNO carriers can reap numerous benefits that help them stay competitive in the marketplace. Here are some of the primary benefits of digital transformation in MVNO billing:

1. Increased operational efficiency: Modern MVNO billing solutions are designed to streamline billing processes, reducing the time and resources required to manage billing operations. This leads to significant cost savings and allows MVNO carriers to focus on other critical areas of their business.

2. Improved customer experience: With real-time billing capabilities and flexible pricing models, MVNO carriers can offer their customers a more personalized and responsive service. This helps to build customer loyalty and improves their overall satisfaction with the MVNO's services.

3. Better revenue management: Digital billing solutions provide MVNO carriers with enhanced visibility into their financial data, allowing them to make more informed decisions about pricing and revenue management. This can help them increase revenue and profitability while minimizing risk.

These benefits are critical for MVNO carriers looking to stay competitive in a rapidly changing telecom landscape. By partnering with a reliable MVNO billing provider and embracing digital transformation, they can unlock new opportunities for growth and success.

Choosing the Right MVNO Billing Provider

Choosing the right MVNO billing provider is a crucial decision that can significantly impact the success of your MVNO. With so many providers offering MVNO billing services, it can be challenging to determine which one is the right fit for your business. Here are some factors to consider when making your decision:

1. Scalability: Make sure the billing provider can scale their services to meet your growing business needs. Look for providers who have experience working with MVNOs of similar size and scope as your business.

2. Reliability: Your billing provider should be able to consistently provide accurate and timely billing services. Look for providers who have a proven track record of reliability and uptime.

3. Integration Capabilities: Ensure that the billing provider can easily integrate with your existing systems to prevent disruptive changes to your operations. Look for providers who offer APIs that can facilitate integration with your other business tools and services.

4. Compliance: Your billing provider should comply with regulatory standards for data protection, privacy, and security. Look for providers who are compliant with industry standards such as PCI-DSS and ISO 27001.

Conclusion

Choosing the right MVNO billing provider is a critical component of your digital transformation journey. By selecting a provider that can meet your business needs and support your growth ambitions, you can ensure that your billing processes are optimized for efficiency and accuracy. Take the time to evaluate your options and make an informed decision that aligns with your business goals.

Case Studies: Successful Implementation of MVNO Billing Solutions

Various MVNOs have successfully implemented digital billing solutions, leading to significant improvements in their business operations, customer satisfaction, and revenue growth. Here are some examples:

Vectone Mobile

Vectone Mobile, an MVNO operating in multiple European countries, partnered with a leading MVNO billing provider to implement a fully automated billing system. This allowed them to offer flexible pricing plans with real-time billing and analytics capabilities. As a result, they saw a 30% increase in revenue and a 40% reduction in customer complaints related to billing.

TracFone Wireless

TracFone Wireless, a leading MVNO in the United States, worked with their billing provider to implement a customized billing platform that allowed them to offer a broader range of services and pricing options. This resulted in a 20% increase in customer satisfaction ratings and a 25% increase in revenue.

"Thanks to our billing provider's innovative solutions, we were able to improve our billing processes and offer better services to our customers. We are confident that this partnership will continue to help us grow and evolve in the competitive MVNO space."

Lebara

Lebara, an MVNO operating in multiple countries, partnered with a billing provider to implement a cloud-based billing solution that allowed them to offer real-time billing, usage notifications, and flexible payment options. This led to a significant reduction in billing errors and a 25% increase in customer retention rates.

These success stories demonstrate the importance of embracing digital transformation in MVNO billing processes and the role of MVNO billing providers in driving this transformation.

Future Trends in MVNO Billing

The future of MVNO billing is exciting, with numerous trends and innovations on the horizon that promise to revolutionize the industry. As digital transformation continues to take hold, the following trends are expected to shape the future of MVNO billing:

Artificial Intelligence (AI)

AI is a game-changer for telecom billing processes, with the potential to automate billing operations and detect billing errors. AI-powered solutions can also provide predictive analytics and personalized services to customers, improving their experience and loyalty.

Machine Learning (ML)

ML is closely tied to AI and has similar potential applications in MVNO billing. ML algorithms can automatically detect data anomalies, predict fraudulent activities, and optimize pricing models for individual customers.

Blockchain Technology

Blockchain technology has the potential to reduce transaction costs and improve data security in MVNO billing. With blockchain, MVNOs can streamline billing processes, ensure data privacy, and reduce the risk of fraud and errors.

Overall, the future of MVNO billing is increasingly digital, and the above trends are expected to play a significant role in shaping the industry in the years to come.

Advancements in MVNO Billing Security

As digital transformation continues to revolutionize telecom billing practices, it is crucial for MVNOs to prioritize security in their billing operations. Fortunately, MVNO billing providers are constantly implementing advancements in data protection, fraud prevention, and compliance measures to ensure the highest level of security for their clients.

Data protection is a top priority for MVNO billing providers, as they handle sensitive customer information such as personal data and financial details. To safeguard this information, providers implement measures such as encryption, tokenization, and secure data storage. These techniques ensure that customer data remains protected and out of reach from cybercriminals.

Fraud prevention is another critical area of focus for MVNO billing providers. Providers utilize advanced fraud detection tools and techniques to identify fraudulent activities and prevent potential losses. Additionally, providers offer continuous monitoring of billing operations to detect any suspicious activity and prevent fraud attempts in real-time.

Compliance with regulatory standards is also a key concern for MVNO billing providers. Providers adhere to industry standards such as GDPR, HIPAA, and PCI DSS to ensure that their clients' billing operations meet legal requirements. Compliance measures also include regular security audits and risk assessments to identify and address potential vulnerabilities in the system.

In summary, MVNO billing providers are constantly improving their security measures to stay ahead of potential threats and ensure the highest level of protection for their clients' billing operations. By partnering with a reliable and secure MVNO billing provider, MVNOs can rest assured that their billing operations are in good hands.

FAQ: Common Questions About MVNO Billing

As an MVNO, understanding the billing process is crucial to the success of your business. Here are some common questions about MVNO billing:

How does MVNO billing work?

MVNO billing is the process of charging customers for the services they use on your platform. The MVNO billing provider you work with will handle the billing process on your behalf, sending invoices to your customers and collecting payments. You will then receive your revenue share from the MVNO billing provider.

What pricing models are available for MVNO billing?

There are various pricing models available for MVNO billing, including pay-as-you-go, pre-paid, post-paid, and hybrid models. The MVNO billing provider you work with will be able to advise you on the best pricing model for your business.

How accurate is MVNO billing?

With modern MVNO billing solutions, billing accuracy is typically very high. Real-time billing ensures that customers are charged accurately for the services they use, and automated billing processes minimize the risk of human error.

What kind of customer support can I expect from an MVNO billing provider?

The level of customer support you receive from your MVNO billing provider will depend on the provider you choose. Look for a provider that offers comprehensive support, including 24/7 customer service, dedicated account management, and technical support.

What are the contract terms for working with an MVNO billing provider?

Contract terms will vary depending on the MVNO billing provider you choose. Look for a provider that offers flexible contract terms that align with the needs of your business. Make sure to read the contract carefully before signing to ensure that you understand all terms and conditions.

Define the benefits of using Telecom billing system

Many consumers believe that a communications service invoice should contain information about their current expenditure, the services they are now using, and the services they are paying for. It is crucial to comprehend how Telecom billing systems function since, in actuality, telecom bills are only intended to explain how much you owe, not why.

Simply put, a Telecom billing system comprises all the procedures, data, and regulations that a service provider uses to determine how much money you owe them. Each supplier uses a unique formula to determine its rates, billing, labeling fees, and branding costs. Even if you can understand the billing system of one provider, this seldom results in understanding with other providers. 

So let's describe what a Telecom billing system offers.

What you don't know ultimately hurts you the most in business. When companies pay for telecom services, this is especially true.

Specific billing patterns and procedures used by telecom firms might incur significant financial expenditures. The good news is that most of these costs can be avoided for businesses that invest in active telecom expenditure management and have the tools to determine what to watch out for.

Features of electronic billing

In this cutthroat sector, offering consumers an effective and dependable method of paying their telecom-related expenses will change the game. A successful Telecom Bill Software should offer the option of electronic bills (E-bills), which allow subscribers to see their bills on digital devices like smartphones, tablets, or laptops.

Additionally, the telecom operator may save significant money by using this function instead of printing invoices. The money saved may then be used to pay for other crucial services for the business.

·         Record validation for data

To provide anti-duplicate protection, an effective telecom billing solution should be able to locate and remove duplicate entries from the system utilizing unique numbers of datasets. This screening procedure reduces mistakes related to duplicate billing of the same account.

·         Decreases errors related to the billing process

The billing process is undoubtedly a difficult task because telecom service providers provide users with various price schemes, including minute billing, charging based on the time of day, etc. Billing mistakes can harm a telecom company's reputation and cause it to lose customers to rivals. A reliable Telecom billing system gives the business a guarantee of quality.

·         Contains Detailed Billing Information

Subscribers to telecom services are constantly looking for methods to cut their costs. Giving customers thorough information about telecom consumption empowers them with the knowledge they can use to make wise decisions. A complete billing report should include monthly information on a subscriber's call duration, time and date of calls, message analytics (received, sent, delivered), data charges, etc. Subscribers should have simple access to this report via the company's web portal using their login information.

·         Provides management with trustworthy data

All telecom-related expenses, including consumption, assets, subscription rates, and other costs, should be tracked via an effective and efficient telecom Bill software. The telecom management team may utilize this data to decide more wisely and effectively on the direction of the business's growth.

·         Simple to Modify and Manage Pricing Schedules

The telecommunications sector is highly competitive, and businesses frequently change their pricing policies and tariffs. A telecom firm should be able to easily deploy new pricing tariffs with the help of an efficient Telecom billing system without having to stop any ongoing billing operations.

·         Process of Budgeting is Simplified

Telecom service providers may manage their budgeting procedures within their allotted budgetary limits with the help of an effective billing system. The system monitors client spending for the telecom business and notifies management when certain benchmarks are surpassed, allowing management to take prompt action to reduce costs.

Getting Professional Assistance

You might use internal resources, if you have the capacity, to assist in uncovering these omitted charges on your monthly telecom bills. A professional Telecom Expense Management (TEM) firm, more recently known as Technology Consultants, will help you find hidden costs and overcharges to save money and improve your bottom line. This alternative is most certainly more effective. A professional TEM service provider may also analyze your existing requirements and provide fresh suggestions that will meet your present and future demands and significantly reduce your monthly costs.

Benefits and Market Value of MVNO For Telecom Operators?

Mobile Virtual Network Operators (MVNOs) provide several benefits to telecom operators:

Increased market reach: MVNOs help telecom operators reach new markets and demographics, especially those who may have been previously underserved.

Reduced capital expenditure: MVNOs typically pay for their own network infrastructure, reducing the capital expenditure required by telecom operators.

Increased revenue: MVNOs generate additional revenue streams for telecom operators by offering new services and pricing plans to customers.

Brand differentiation: MVNOs can help telecom operators differentiate their brand and offer unique value propositions to customers.

In terms of market value, MVNOs have become a significant player in the telecommunications industry and are estimated to generate billions of dollars in revenue each year. The market value of MVNOs is expected to continue to grow as more consumers seek more cost-effective and customizable mobile services.

MVNO Market Evolution

The MVNO market has evolved significantly since its inception. Here are some key developments in the MVNO market evolution:

Early Adoption: MVNOs were first introduced in Europe in the late 1990s, offering low-cost mobile services to consumers.

Expansion into new markets: MVNOs have since expanded into other regions, including North America, Asia, and Australia.

Diversification of services: MVNOs have diversified their services beyond basic voice and text services, offering data plans, mobile broadband, and mobile financial services.

Increased competition: The MVNO market has become increasingly competitive, with new entrants offering innovative services and pricing plans to attract customers.

Partnership with MNOs: MVNOs have formed partnerships with Mobile Network Operators (MNOs) to leverage their network infrastructure, providing cost-effective and scalable services to customers.

Emergence of digital MVNOs: Digital MVNOs have emerged, offering mobile services exclusively through online channels, providing customers with a convenient and seamless experience.

5G MVNOs: With the rollout of 5G technology, MVNOs are expected to play a significant role in providing 5G services to customers, leveraging the network infrastructure of MNOs.

Overall, the MVNO market has evolved to meet the changing needs and demands of customers, providing a wider range of services and more cost-effective mobile solutions.

Challenges in the MVNO Business

The MVNO business model presents several challenges that must be overcome for success:

Dependence on MNOs: MVNOs rely on Mobile Network Operators (MNOs) for network infrastructure, making them vulnerable to changes in MNO policies and prices.

Competition with MNOs: MVNOs compete with MNOs for customers, making it difficult to differentiate their services and pricing plans.

Complex pricing models: MVNOs must develop complex pricing models that take into account the cost of network usage, customer acquisition, and marketing expenses.

Limited control over network quality: MVNOs have limited control over network quality, which can impact customer satisfaction and loyalty.

Marketing challenges: MVNOs must develop effective marketing strategies to attract and retain customers in a highly competitive market.

Regulation and compliance: MVNOs must comply with a wide range of regulatory requirements, including privacy, data protection, and consumer protection laws.

Capital investment: MVNOs require significant capital investment to build out their network infrastructure and develop their brand.

Overall, MVNOs must overcome these challenges to establish a successful and sustainable business. This requires a combination of effective marketing strategies, a strong focus on customer service, and careful financial management.

Top Reasons to Integrate a Telecom Billing System

One of the main concerns of telecom companies is billing customers accurately. To build, grow, and maintain a large customer base as a telecom provider, billing for services must be accurately done with a telecom billing system.

Many factors go into accurately billing a user. The customer must be charged using the appropriate billing method - prepaid, postpaid, or convergent methods. Any taxes, debts, and other payments should also be taken care of.

When your business is working with thousands of customers who may also have multiple telecom accounts, the number of processes to monitor and charge go into the millions. You will then have to hire hundreds of staff workers to do that for you, or incorporate a telecom billing software that will easily automate all of the processes.

In a nutshell, a telecom billing system is software that gathers users' data and charges them appropriately for services used. A telecom billing solution creates CDRs for every usage by a customer account, records the data, charges the customer, and generates invoices as required.

Here are the top 5 ways that a billing system will save your telecom business time and money.

Billing in Real-Time

A telecom billing system uses an Online Charging System (OCS) to bill users in real-time. Every time a call is placed, text is sent, or data connectivity is turned on, the telecom billing software creates a Call Detail Record (CDR). The software uses the CDR to measure usage and charge the customer.

If the billing method is prepaid, the telecom software debits the user's credited telecom account. But if the method is postpaid, the software simply adds that CDR to records already held for the customer. Later on, the software generates and sends the invoice. Depending on the plan, a telecom billing software generates invoices every 30, 45, 60, or 90 days.

Automating Back-End Processes

Apart from charging customers on the go for services used, a telecom billing solution helps to automate the back-end processes of telecom businesses. This greatly reduces the workload for the staff.

Some of these back-end processes include adding new customers, removing old customers, generating invoices for postpaid clients, collecting debts, implementing discounts, and so on.

A telecom business cannot rely on the staff to go through the large database, working on all these processes. A telecom billing software automates the process and saves time and money for the company.

Wholesale billing and reconciliation

Apart from charging users, a telecom billing system can be integrated to monitor all transactions with a supplier. The telecom billing solution automates the process of sending payments to suppliers and creating records for those transactions.

Generating Reports

The use of telecom billing software automates the process of generating a detailed report of customer and company transactions. With the aid of software, it is super easy to generate reports for any time interval of your choice.

Billing Service Provisions

If a customer makes a one-off purchase, or orders some hardware fix, a telecom billing software automatically generates the bill and charges the customer. It can take into account taxes, VAT, and so on.

Telecom Billing systems are irreplaceable assets for telecom companies. Feel free to contact us to learn how Telgoo5 will easily integrate with your business and CRM, to save you time and money.

How to Select the Right Telecom Billing System for Your Business

Billing is one of the most important aspects of a telecommunications company, since it directly impacts the flow of revenue. Billing customers incorrectly, or failing to bill at all can be disastrous for telecommunications businesses. Telecom billing is also very complicated. Each individual account must be tracked for usage, have the correct rates applied to that usage, have the total cost calculated and have the correct invoice go to the correct customer. It is not a simple transaction. 

The best thing a telecommunications company can do for the health of their billing (and therefore, their business), is to rely on a telecom billing software. The software will handle all calculations, invoicing, and debt collection. The right software can really improve the health of a telecom business, while unburdening employees.

Here is how to select the right telecom billing system for your business: 

1.     Make sure the software you choose can do everything you need it to. The question behind the question here is how complicated is your business? Do you need really robust telecom billing software, or will a simple invoice management system suffice? Choosing a billing software that cannot do everything you need it to can be very frustrating. Similarly, overspending on a software that has a bunch of features your business does not use can be a costly error. The best way to go about this is to come up with a list of features you need before you even start researching telecom billing software. This list will guide your search and help you to narrow down your options.

2.     Check to see if the software will integrate into your existing systems. If your company relies on a CRM (Customer Relationship Management), the billing software you choose should integrate. If it does not, your employees will likely wind up tracking customer data in two different places. Not only is this boring and tedious, but it is a system that is rife with human error. You want your two systems to communicate and integrate with each other. If your favorite telecom billing system does not integrate with the CRM  your company is already using, then you need to cross them off of your list, as painful as that may be. 

3.     Ensure that the system is adaptable. When you invest in a telecom billing software, you are making a multi-year investment. Your business may change over the years, industry regulations may change over the years...a lot can happen. Make sure that the software you choose has a history of adapting to changing circumstances and can support your evolving business. 

4.     Analyze pricing. Telecom billing software is a significant expense, so make sure that the cost is something that your business can support. Telecom billing software can help your company to save and make money in the long run, but you have to make sure that you have the funds available to support the software today. This is not a business decision to take lightly. 

Remember, telecom billing software exists to make your life easier and your company more successful. Those should be your expectations as you consider which software to use.

Stay Covered on Every Front with an Evolving AI-Powered Billing Software

The billing requirements faced by telecom operators keep on rising with each passing day. There is so much to do and so little time to waste. With 5G and IoT added to the catalog of services, the challenge is only going to become tougher, unless you have a billing software and B/OSS solution that fulfills new requirements.

Stay One-Step Ahead with AI-Integration

Considering the rapid changes in billing and delivery processes, a telecom operator needs to stay proactive with his subscription plans, business operations and order management. It is impossible to pre-plan and deliver services via a monolithic platform that is reactive in nature.

At Telgoo5, you get access to an AI-powered platform that anticipates your needs before they become an urgent requirement. As a result, you can create custom flows to manage customers’ demands. The ability to make sense of the vast amount of data ingested by the billing systems and BSS solution that you have employed plays a key role in driving your telecom operation towards success.

Evolve as Per Evolving OSS BSS Architecture

OSS BSS architecture constantly evolves as per the technical specifications conceptualized by 3GPP. On top of that, a telecom operator needs to stay vigilant of the changes recommended by regulatory bodies e.g., FCC in the USA.

Taking this burden on as an everyday responsibility can take your focus away from strategic tasks. What if you can manage all these responsibilities with a platform that adapts as per these changes? Telgoo5 does exactly that. It allows you to stay free and focus on what you do best. Responsibilities like staying compliant, upgrading/customizing software etc., are managed well by Telgoo5.

Powered by a Real-Time Online Charging System

Regardless of the scale of your telecom operation and subscriber base, Telgoo5 provides you real-time charging platform with its revolutionary Online Charging System (OCS). It is a convergent charging platform that is capable of managing millions and millions of transactions every day. The OCS can charge both event-based and session-based transactions. It enforces credit limits accurately and provides timely reminders to your customers when they are about to exceed their allotted quota. Telgoo5 is intuitive, easy-to-use and comes with 24x7 tech support.

With Telgoo5 as your partner, you get access to APIs, CRM and a dependable point of sale for selling your telecom offerings. We are integrated with all the major carriers and can immediately provide you high-speed and secure connectivity. It is a holistic telecom services platform that lets you stay covered on all fronts, ready to meet the challenges of the future.

Access a Flexible Telecom billing solution to Change Plans on the Fly

Customer’s interest keeps on changing fast when it comes to their telecom services. Depending on the latest technology, which plans their friends are on and their job profile, customers switch their subscriptions at the drop of a hat. If you have a monolithic telecom billing solution, you would face great problems in changing customers’ plan as per their wishes. It is important to utilize a cutting-edge and flexible telecom billing software solution.

Leverage the Power of Real-Time Billing

Real-time billing is the benchmark for today’s telecom service delivery. Unlike in the past when customers were restricted to a few services, nowadays, the service catalog is vast. As you can’t manage each service separately, it is vital that you have a billing platform that can account for both events and sessions e.g., number of SMSes sent (events), data connection length or voice call length (sessions). This functionality is only available in telecom billings software platforms that are powered by a real-time Online Charging System.

OCS-powered billing platforms allow for:

·         Complete revenue assurance

·         Consolidated billing and a single unified invoice for all services

·         Flawless credit limit implementation

Scale your Business with Versatile Billing Systems

Nowadays, it doesn’t make sense on buying a complete billing solution. The SaaS model works just fine as it provides you timely upgrades. The ability to perform cloud-based charging is vital for flexibility. As the cost of constantly customizing a standalone software is high, online billing systems are definitely the way to go, especially in these times when telcos are struggling to keep their revenue high.

A top-notch SaaS-based telecom billing solution such as Telgoo5 comes with all the latest and greatest functionalities that are required for telecom billing. It has APIs that add new functionalities to an already owned telecom billing system. The APIs can be used for entering a new partnership with a vendor. Or, they can be utilized for adding a new database. You can also use APIs to provide self-care service platform to the users. All this is done in a multi-tenant environment.

Telgoo5 also provides you a high-grade CRM for customer support requirements. It is connected with APIs for simple operation.

Telgoo5 is an intuitive platform that can be used even by people from non-telecom backgrounds. It has a remarkable point of sale platform and provides complete support for futuristic services such as IoT and 5G. It is also secured with robust encryption and prevents customer data from getting compromised.

Inspire Innovative Strategy in 2021 with Turnkey Telecom Billing Solutions

The innovations in telecom technology are taking place at an unprecedented pace. With 5G technology in full flight and mass employment of IoT by industries, the onus is on telecom operators to provide quality services to their subscribers. Given the current state of telecom industry and the prevalent competition, it has become all the more important to use telecom billing solutions that can be immediately put to good use.

Turnkey Telecom Billing Software for Rapid Growth

If you are stuck with traditional telecom systems and still use offline charging, it is time to make a major overhaul in your telecom billing strategy. The best telecom billing software solutions offer turnkey functionalities that can be used immediately. There is no time to waste as the potential of new technologies is really high. Before your competitors attract your existing customer base, it is crucial that you change the odds in your favor. A turnkey telecom billing software solution offers the following functionalities:

Point of Sale

The ability to sell your services in a convenient way can make your life a lot easier. The best telecom systems such as Telgoo5 have already been tested to deliver a proven point of sale platform.

Improved Management of B/OSS

B/OSS is a very important paradigm. Business and operation support services determine the quality of services you can offer to your customers. Employing NFV and SDN technologies gives you more efficiency. Improved fault-management and network maintenance via top platforms like Telgoo5 can be a real game change for your MVNO.

Enhanced Revenue Assurance

An intuitive platform that offers complete revenue assurance allows you to manage your yearly revenue. It provides a transparent overview of your earnings and revenue generated through different services. Customers get exactly what they pay for, and their trust in your services rises. Telgoo5 allows you to audit transactions, detect frauds and stay completely assured about the revenue.

Real-Time Convergent Billing System

With an Online Charging System (OCS), you can perform day-to-day charging and rating functions in real-time. It allows you to charge every service at a centerallized place and create consolidated bills that reflect every single charge on a single piece of document. Credit limits are enforced accurately and customer are kept in loop of every charge they have incurred over the billing cycle.

With backward-compatibility and seamless integration into existing workflows via APIs, Telgoo5 offers a sound platform for MVNO, MVNE and MNO in 2021. It simplifies day-to-day functions and allows telcos to strategize well for the future.

Prepaid And Postpaid Plans: Which Is Right For Your Business?

In the telecom industry, astute decision-making concerning your service offerings can be a key element behind sustained success. If you have already planned how to differentiate yourself as an MVNO and have all the important strategies in place for consistent growth in a competitive market, you still have to figure out a very important point – do you choose prepaid or postpaid plans for your business?

When it comes to offering telephony plans to your customers, you can choose between prepaid and postpaid plans. There are important pros and cons to consider on each side. If you work with a seasoned billing and charging service provider like Telgoo5, you can keep your options open and adopt a service strategy that maximized revenue, retention, and customer loyalty for your business.

Prepaid vs Postpaid

With prepaid plans, customers purchase a set amount of data and phone services from you with an upfront payment. This can then be used for the duration of the plan or until the service limits are exhausted. Prepaid plans are meant for quick and easy adoption.

The benefits of offering prepaid plans include:

• Undisputed revenue in the form of upfront payments

• Seamless onboarding of customers with no credit checks required

• The ability to offer flexible, customizable plans from the very outset

• Preventing overuse

• Preventing revenue loss though defaulting or late-paying customers

Postpaid plans involve a more long-term relationship with customers who pay monthly or yearly fees for their usage plans. The main difference is the fact that payment takes place after the service has been used. This style of service is more in tune with the needs of customers who need unlimited plans and are more likely to use your service heavily.

You can consider offering postpaid plans for the following advantages:

• Consistent revenue and relationship-building with long-term customers

• Catering to customers with large-scale service needs that limited prepaid plans cannot cover

• The opportunity to automatically incentivize heavier use of services with unlimited plans

• The ability to recover revenue by charging customers for overuse

• The opportunity to upsell new service offerings to loyal customers

With careful consideration, it can become evident that both prepaid and postpaid solutions have their perks and you cannot ignore either if you are looking for massive adoption and business growth.

Planning Your Service Offerings

Depending on the target audience you want to cater to, you can either lean heavily towards one of the options or choose to create a balanced service offering that leverages every opportunity. While offering customer prepaid plans can allow for a quick recovery of your investments, offering postpaid services can set your business up for long-term growth.

It’s crucial to have the right billing solutions partner in your corner if you want to make the best use of these opportunities. Working with a company like Telgoo5 offers you a seamless, integrated solution where you can use one centralized platform for charging, rating, and billing.

You can use Telgoo5’s service to create and offer different tariffs and bundle plans, integrate online payments, deals, and discounts, provide value-added services, and still retain the ability to manage both prepaid and postpaid billing requirements from one comprehensive solution. This can also be a great opportunity to avoid having to pass up on either strategy as you grow and evolve your business.

Why Research is Essential for Any Telecom Business

There are hundreds of steps that a telecom business must employ to ensure that they become a success and remain a success for years to come. These steps will differ depending on the type of business, but if there is one essential variable that all business owners can find useful – research

Business research is something that constantly needs to be implemented to ensure the utmost flourishment of a business. Trends come and trends go but the value of proper and practical research will never cease to exist and here are a few reasons why.

It Can Boost Your Sales

The only true way to grow a successful company is to deliver the services and/or goods that consumers are craving. No matter the niche of your business, understanding the demand of your customers and potential customers is critical.

But how is regular research going to lead to more profits? A unique method of research known as quantitative research is the answer. This will allow, for your convenience, the ability to get first-hand insight into the perspective of your clientele.

Employing quantitative research can be achieved via different types of consumer surveys (such as online and telephone surveys). The information you gather can answer some burning questions you may be having. For example, through said surveys, you can determine if your users are satisfied with the services you are offering and can identify which (if any) changes need to be made.

Allows for the Observation of Competitors

Businesses are always in competition with one another. This is especially true in the telecom industry, where so many similar phone plans are being offered. The more consumers you can draw the better, and businesses are constantly at battle with one another to increase their customer base. That said, in order to surpass your competition, you must first gain insight into their business practices.

Focusing on your specific industry, you can gather a list of the businesses you feel you need to compete with (keeping in mind location, company size, and other things of that nature). From there, document the types of services they offer, the demographics they are attempting to reach, and what makes them unique.

Being aware of these types of attributes can help you differentiate yourself from your competitors in an attempt to draw a wider audience. When you know what services your competitors are offering, you can find a charging system that will go above and beyond to ensure your services exceed customer expectations and help differentiate your business from your competitors.

You Can Properly Track Market Trends

It can’t be stressed enough that remaining stagnant in the business world can be detrimental. Regardless of the market that is being focused on, it is always important to understand the direction that the market is heading in.

Keeping an eye out for upcoming trends can allow you to tailor your goods and/or services in a manner befitting the ever-growing needs of your consumers. If old and outdated trends are being marketed, it could result in a loss of customers. Maintaining a modernized platform should be a top priority as most people will be looking for the best.

Continuing to keep up with new billing trends and practices will prove to be extremely beneficial. Telgoo5 offers solutions for any and all online charging needs. We are always happy to share our expertise and talk about how our platform can add benefits to your brand.

What is BSS and Difference Between OSS and BSS in Telecom

Anyone who is a business owner today knows that there are plenty of terms that get kicked around. Sometimes it can be really difficult to keep them all straight, and it’s frustrating when we don’t understand what certain ones mean. It’s important for any serious entrepreneur to have a working understanding of industry terms, particularly if they are active in the telecom business.

Two such terms are BSS and OSS. At first glance, these terms seem like they can be totally interchangeable, but they refer to different aspects of a business. BSS and OSS work together to make a system run smoothly, and both need to be fully operational in order to allow your company to scale properly and be that the top of its game.

Simply put, BSS, or “business support system” deals with the needs of your customers. It’s often referred to as a business interface that allows your customers to conduct their transactions fluidly and without any problems. BSS deals with things like billing and customer relations, both of which are extremely important in the telecom space. One of the biggest problems that new companies run into is problems with scaling and billing. Telgoo5’s postpaid billing system is first in its class, and allows your MVNO to rate network trasactions based on raw CDRs. We also offer a CDR mediation process, and built-in user guides so you’re filled in on every step of the process.

A sure-fire sign of a company that doesn’t know what it’s doing is an inability to bill properly. Missing bills, inaccurate itemization, or other issues will mark your telecom company as being one that is unreliable. A solid BSS will help with billing issues and make sure that your customers are getting billed properly each and every time. Telgoo5’s BSS also is cloud-based, which offers another layer of protection for your customers. Since their information is stored in the cloud, it’s easily accessible and not vulnerable to hacks. It’s a much better set-up than other types of BSS systems, which is why Telgoo5 is a great choice for telecom companies that are looking to cement themselves as experts in the field.

OSS stands for “operation support system” and helps operations run smoothly. This is critical if you want to have an interface that is both flexible enough to support all different types of business needs while still being sturdy enough to handle multiple clients in one go. Telgoo5’s OSS was strategically designed to be scalable and customizable for all sorts of different types of companies. We pride ourselves on offering solutions that can be tailored to fit any business needs.

OSS and BSS also can work together to address security concerns. Good security is one of the major concerns for new businesses these days because customers are acutely aware of how easily their information can be compromised. Telgoo5’s platform was designed with security in mind, and customers know that their information will never be leaked to other companies. Since much of our BSS is cloud-based, sensitive customer data is always protected and secure in the cloud, which is safer than just about any other server on earth. This is one of the major perks of working with Telgoo5.

When you combine a good BSS and OSS together, you have a system that works to address all of the needs of a business. Telgoo5’s mandate is to create a system that works for every new telecom company and allows them to focus on scaling while knowing that their infrastructure needs are taken care of. With our OSS and BSS working in tandem, we can eliminate some of the more pressing concerns of new companies, like infrastructure, security and billing needs. Our call center is also equipped to handle customer calls with ease. We provide a fully integrated platform that allows small businesses to skyrocket to success.

Five Reasons Why Your Employees Need KPIs

KPIs, or Key Performance Indicators, are an exciting buzzword that gets tossed around in business circles. You might have heard of it, but don’t exactly know what it means. Essentially what KPIs do is enable everyone in your company to understand what needs to be done on a daily basis to reach big goals and milestones. Without them, your company is floundering around without any real mission in mind!

Just as your C-Suite executives need to have KPIs worked into their daily routines, so do your support staff. It’s imperative for everyone to be working their best on the goal at hand; to make your company as great as it can be. Why are KPIs so critical? Let’s break it down

Your Employees Understand The Big Picture And Their Role In It

This is the most important reason why you need KPIs for all of your employees. Employees at all levels are far more enthusiastic about and invested in, a company when they understand how they are important. KPIs let your staff know that their daily contributions are helping the company meet its ultimate goals.

(v)WeCare empowers our employees with the KPIs that they need to understand their importance to the company. They respect the process of limited hold wait time and understand our mandate to actively try to fix customer issues on the first call. Since they know what success looks like, they are able to streamline customer issues and deal with anything that comes their way. Having a crystal-clear indication of how everyone is important is critical to business success.

Employee Reviews Will Be Far More Constructive

Have you ever given one of your employees a negative review, only to have them stare back at you in confusion? Don’t worry. It happens all the time to businesses, and there is a simple reason- your employees were not given actionable KPIs that they could use to measure their own success.

Of course, some employees will simply ignore the KPIs that you give them, but trust us, that makes it all the easier to penalize them for not performing up to scratch! KPIs actually work to make employees and management a team, rather than opposing forces. At (v)WeCare, we understand the importance of a harmonious working environment, which is why our Project Managers are expertly trained on multiple disciplines and able to extend project-specific KPIs to their staff. This not only keeps the projects running smoothly but also allows them to address any issues that might arise!

There Is An Objective Measure Of Success For Everyone

Nobody wants to talk about favoritism in the workplace, but it’s a complaint that often gets tossed around. Perceived favoritism is something that can sink workplace morale and lead to disgruntled and unmotivated employees. Having KPIs specific to each job will eliminate the suspicion of favoritism and keep the workplace operating at an optimal level.

(v)WeCare strives to keep our workplace as professional as possible, and that means putting in specific KPIs for all of our reps. They know that we are operating on the level, and they are committed to helping drive success!

The Establishment Of Milestones And Goals Will Help Your Company Scale

Fast scaling is one of those things that tends to throw a company into disarray quickly. Suddenly jobs and responsibilities are changing, which can be stressful for everyone. It’s even more stressful when you don’t have KPIs in place to guide people into their new roles. Effective KPIs will enable your company to run as efficiently as possible in times of change.

Since (v)WeCare puts a premium on flexibility and the ability to help companies scale, we understand how transparent KPIs go a long way to quickly mobilizing your team to reach their new goals. We do it all of the time with our massive professional network and superstar outsourcing staffs!

KPIs Help Keep The Office As Productive As Possible

A confused office is an unproductive office. If employees don’t know what they are supposed to be doing, they will make something up. Sometimes that is okay, but most of the time, it just leads to more confusion! If you want your office to be as productive as possible, give your employees KPIs.

Productivity and harmony are two cogs in the well-oiled machine of the workplace. (v)WeCare understands this, which is why we have extensive training for all of our outsourcing employees. We empower them to succeed by giving them the building blocks and milestones that they need to make success a reality!

KPIs can help your business go from mediocre to superstar. Start employing them today, and you’ll be amazed by the results!

Don’t Let Your Customers Suffer Anymore, Switch to OSS Telecom Billing Software

Technology does not always change for the best. But, that does not mean it does not try to make things better. When we look from the perspective of telecom industry, BSS and OSS have been two pillars of technology that have transformed the way business takes place. And the good news, everything has changed for the best. Compared with platforms used in the other industries, these two solutions have been in the market for a long time and have garnered trust from most telecom vendors. So, if you are still clinging onto the telecom systems of old, it is probably time to let go and switch to OSS telecom billing software.

Why Change Is Important for All Industries?

When we look at industries of today, hotel industry stands out as the one that has probably seen the biggest transformation in terms of its operations due to technology. In the past, it was tough for hotel chains to manage their properties spread over different parts of the globe. But, with the coming of PMS and cloud-based technologies, almost all hotel chains are using it or planning to use it in the future. A study has revealed that in the next 4-5 years hotel companies will invest up to 8% more in cloud-based technologies.

Compared to hotel industry, operations in telecom industry are much more complex. Monitoring of customer, interactions, provisioning, billing, meditation systems, and the list goes on and on! A telecom operator requires all the help he can get. So, when the solution is staring at you in your face in the form of OSS telecom billing solutions, why not upgrade?

Drawbacks of Legacy Systems

Legacy systems are much more cumbersome and require manual intervention for smooth operation. This may lead to recurring errors that can diminish the customer’s faith in you. Let’s say a customer wants to upgrade his plan and calls up customer support. Upon receiving a request, the agent sends it forward for execution. Now, the system employed by the service provider lacks the service assurance feature normally found in OSS applications. In this case, there is a high probability that the request may be completed but not up to the service level agreement between the provider and the customer. This may reduce the trust of the customer in the system and he may opt for a different provider.

Now, compare this situation with an OSS-backed operation. The OSS telecom billing software has service assurance as one of its primary feature. Unless, there is a terrible malfunctioning of the system (which is very rare), it is highly unlikely that the request will be mismanaged or delivered incorrectly. All the more reason to employ, quality OSS telecom billing solutions, don’t you think so?

The One Thing You Did Not Know About Telecom Billing Software

Telecom billing is a thankless task. You can be right 99 times out of 100, but if you make a single error, all the good work you have done previously goes down the drain. Just like politics, customers have short memories when it comes to the telecom services they use. Politicians have the advantage of evoking the right emotions at the time of elections but telecom operators do not enjoy such a luxury. They have to be right all the time and then some.

Not so long ago, when telecom billing systems were not as evolved as today, it was even harder to provide accurate bills to the customers. But at that time, the competition in the telecom industry was relatively low. At the sight of a wrong bill, customers used to think twice before crossing over to another provider. Not anymore! In this age of information and evolving telecom market, the playing field is a lot more competitive. Every year we see new entrants who try to lure away customers with flashy schemes and minimum tariff plans. This trend makes life difficult for established players in the market, especially for those who are still using outdated OSS telecom billing software.

“Hello! Have You Heard About Our New and Improved Telecom Billing Software?”

Do you know what most telecom operators do after hearing this line from a sales representative? They disconnect the line. It is not as if all the telecom billing software solutions made by IT companies are good and work well for every business. Not at all! However, complete disdain for something that you automatically think of as an exorbitant expense. Doesn’t make good business sense!

If till now, you have refrained from purchasing OSS telecom billing solutions because you thought they cost too much, you are in for a surprise. Most telecom entrepreneurs, in spite of their vast knowledge, do not know that telecom billing software can be procured as Software as a service (SaaS). If you are still not clear how this can help…read on.

Telecom Billing Software as SaaS

One of the least expensive ways of employing telecom billing software in your business operations is via SaaS model. With SaaS, you do not have to purchase any license or acquire any infrastructure. You can even decide on whether to host the services on your company’s cloud or employ the billing platform already operating in a cloud provided by the vendor.

This approach best suits startups and organizations with a limited budget. Enterprises that wish to integrate the billing software ASAP have to wait for only a day or two before beginning the use of billing software as part of SaaS model.

Can Blockchain Make Telecom Billing System Better?

Ever wondered how many people have invested in bitcoins and other cryptocurrencies? As per a survey performed by Cambridge University, somewhere between 2.9 million and 5.8 million people utilized a cryptocurrency wallet in 2017. This number is staggering, especially when we look at the way governments of different countries are doing their best to stop people from using it.

Many governments deem it illegal, others tell the people that it is unsafe for their hard-earned money and some even go as far as saying that it is downright immoral (some people use cryptocurrency for purchase of drugs and illegal video content). Right or wrong, we are not here to discuss about the virtues of cryptocurrency. We are here to analyze what makes it click. Which is that unseen force behind this phenomenon that people trust? The answer is simple: Blockchain.

Bitcoin is an unregulated and de-centralized currency, which means that there is not one single entity that controls it. The power lies in the hands of people. It is the best form of democracy when it comes to financial transactions. And, it has been made possible by the use of blockchain. For a layman, blockchain is like a ledger that is made available to all users. The data and transactions are completely transparent, which is clearly seen by all the users at all times. It won’t be wrong to think of it as a Google Doc spreadsheet, which can be edited at any time and the changes are there for all to see. Due to transparency in all transactions, people are ready to put their faith in it and hence, cryptocurrency has become so popular.

Use of Blockchain in Other Fields

Although, blockchain hasn’t been used in any other field, its promising start as part of the cryptocurrency operations makes it a wonderful option for other domains. In a field like telecom, where customers are often worried about the telecom billing system employed by their service provider, it won’t be a bad idea to give blockchain a try.

However, an immediate overhaul of the system is not advised and companies should look to integrate it slowly with their telecom billing solutions. Some of the benefits that can be extracted by its implementation in telecom are listed below:

1. Solution to the problem of roaming – Blockchain can help overcome the major hurdle of operators that require them to integrate expensive systems, so they can offer authentication/access settings for starting roaming calls. Blockchain addresses this problem by enabling complex datasets across multiple parties, in real time and with great reliability.

2. Better Connectivity – Use of blockchain along with telecom billing and payment software will make it easier to offer several local hotspots along with Wi-Fi accessibility based on permissions. The transparency that comes with blockchain can go a long way in fostering trust amongst customers with regards to billing for these difficult-to-track services.

3. Telecom providers can become remittance providers – Remittance is the action of transferring money in a different country. By using blockchain, telecom providers will be able to serve their clients better by offering remittance services.

4. Reduction in cost of operation – Last but definitely not the least, the implementation of blockchain will automatically lower the requirement of infrastructure, which will in turn lower the cost of operation.